Indian Defence Minister Rajnath Singh highlights India's resurgence under PM Modi's leadership, with efforts to strengthen the economy and military capabilities. Singh emphasizes the government's commitment to developing a strong, young, and technologically advanced armed forces, eliminating a colonial mindset, and achieving self-reliance. He also cites government reforms aimed at facilitating economic growth, including direct tax reforms and the implementation of Goods and Services Tax (GST). Singh envisions an India where citizens take pride in their culture, uphold democratic values, and contribute to global peace.
Read MoreThis is lower than the historic GST collection of ₹1.87 trillion reported in April but is in line with the trend of robust GST revenue receipts
Read MoreThe gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is ₹1,57,090 crore of which Central GST is ₹28,411 crore, State GST is ₹35,828 crore, Integrated GST is ₹81,363 crore
Read MoreRevenue collection from consumption, or GST, has shown a 20% jump year-on-year in FY23 while customs duty has improved by close to 7%
Read MoreNew Delhi: Central and state governments collected ₹1.57 trillion in Goods and Services Tax (GST) in May, 12% more than what they netted from the indirect tax a year ago, the finance ministry said on Thursday.
Read MoreSource: https://taxguru.in/goods-and-service-tax/indias-gst-revenue-may-2023-surpasses-1-57-lakh-crore.html
The gross GST revenue collected for May 2023 in India amounted to ₹1,57,090 crore, representing a 12% year-on-year growth compared to May 2022. This marks the 14th consecutive month with GST revenues exceeding ₹1.4 lakh crore and the 5th time crossing ₹1.5 lakh crore since the implementation of GST.
Read MoreThis could be one of the most opportune times to bet on the Indian market. The sentiment is bullish due to strong foreign fund flows, impressive quarterly results by India Inc., strong macroeconomic numbers and market-friendly economic policies.
Read MoreThe Indian economy remains resilient in the face of a challenging global environment, CII said
Read MoreLatest Updates on 2 Factor Authentication, Deregistration of Enrolment, and Common Enrollment in e-Waybill System
Read MoreNEW DELHI : The proposal to include electricity under goods and services tax (GST) is likely to take another five-10 years as states are not yet convinced, and it is still being considered by the GST Council, Sushil Kumar Modi, a member of the Rajya Sabha and former deputy chief minister of Bihar, said in an interview on sidelines of Mint India Public Policy Summit on 26 May. Besides, bringing petroleum products under GST will not be viable, Modi added.
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